Steyr Motors gives up raw material production project for lithium battery
2017-04-17 17:29:39 [Print]
On the evening of 12 April, Steyr Motors claimed that its fully-owned subsidiary company Jiangsu Steyr signed with Huitianran Investment the Shares Transference Frame Agreement, via which it will transfer to the latter its 51% of shares in Qingdao Hengxin Rongli Technology, thus formally exiting the lithium industry.
Located in the proximity of Qinghai Lake, Qingdao Hengxin Rongli Technology is an enterprise engaged in research, production and sales of lithium carbonate, raw material to produce lithium battery. In February 2015, Steyr Motors invested into it RMB153 million (USD22.22 million) to acquire 51% of its total shares, thus formally entering the upstream new energy industry
Steyr Motors declared this share transference as a move “to avoid potential risks hidden in an over-hectic market, to improve investment returns, and to protect rights and interests of the company and its public investors”.
Located in the proximity of Qinghai Lake, Qingdao Hengxin Rongli Technology is an enterprise engaged in research, production and sales of lithium carbonate, raw material to produce lithium battery. In February 2015, Steyr Motors invested into it RMB153 million (USD22.22 million) to acquire 51% of its total shares, thus formally entering the upstream new energy industry
Steyr Motors declared this share transference as a move “to avoid potential risks hidden in an over-hectic market, to improve investment returns, and to protect rights and interests of the company and its public investors”.
Lithium Carbonate 99.2%min Delivered China
Unit:RMB/mt
China lithium carbonate 99%min producers' suspension number statistics by province by month
Unit: pcs
